Unemployment drops after a 6.4% spike in July

A surprise drop was recorded in August as the unemployment rate finished at 6.1%, a slight improvement from July’s 6.4%. 121,000 jobs were added to the labour sector, with participation rates increasing to 65.2%.

Employment was driven up by an increase on part time employment, with 65,400 males and 41,300 females employed, according to the Australian Bureau of Statistics. The Australian dollar has increased to US92 cents as news of the job increase surfaced – the first time it has been in the 92 – 95 cent range since March this year.

Read more about this on the Sydney Morning Herald website.